FibroGen, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. FibroGen issued a statement on April 6, 2021, providing “clarification of certain prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia of chronic kidney disease (‘CKD’).” The Company stated that its safety analysis “included post-hoc changes to the stratification factors.” FibroGen disclosed that based on analyses using the pre-specified stratification factors, the Company “cannot conclude that roxadustat reduces the risk of (or is superior to) MACE+ in dialysis, and MACE and MACE+ in incident dialysis compared to epoetin-alfa.” Based on this news, shares of FibroGen dropped sharply.

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Ubiquiti Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ubiquiti is the subject of an article posted by Krebs on Security on March 30, 2021. The article, titled “Whistleblower: Ubiquiti Breach ‘Catastrophic,’” alleges that “now a source who participated in the response to that breach alleges Ubiquiti massively downplayed a ‘catastrophic’ incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication.” The article quotes a letter from the source to the European Data Protection Supervisor stating “it was catastrophically worse than reported, and legal silenced and overruled efforts to decisively protect customers” and “the breach was massive, customer data was at risk, access to customers’ devices deployed in corporations and homes around the world was at risk.” Based on this news, shares of Ubiquiti fell by more than 7% on the same day.

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Frequency Therapeutics, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Frequency issued a press release on March 23, 2021, announcing topline data from its FX-322 Phase 2a study (FX-322-202). The Company admitted that “the interim results show that four weekly injections in subjects with mild to moderately severe sensorineural hearing loss (SNHL) did not demonstrate improvements in hearing measures versus placebo.” Based on this news, shares of Frequency dropped by almost 78% on the same day.

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Danimer Scientific, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Wall Street Journal published an article on March 20, 2021, titled, “Plastic Straws That Quickly Biodegrade in the Ocean, Not Quite, Scientists Say.” The article addresses Danimer’s plant-based plastic Nodax, which the Company claims breaks down faster than traditional plastics. The Journal claims that “many claims about Nodax are exaggerated and misleading.” The article quotes one expert as saying the Company’s claim about Nodax “is not accurate” and is “greenwashing.” Based on this news, shares of Danimer fell by 12% on the next trading day.

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AstraZeneca PLC

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The National Institute of Allergy and Infectious Diseases (NIAID) released a statement about AstraZeneca’s COVID-19 vaccine on March 23, 2021. According to the statement, “late Monday, the Data and Safety Monitoring Board (DSMB) notified NIAID, BARDA, and AstraZeneca that it was concerned by information released by AstraZeneca on initial data from its COVID-19 vaccine clinical trial.” The statement added, “The DSMB expressed concern that AstraZeneca may have included outdated information from that trial, which may have provided an incomplete view of the efficacy data.” Based on this news, shares of AstraZeneca fell in intraday trading on March 23, 2021.

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Neptune Wellness Solutions Inc.

According to the Complaint, the Company made false and misleading statements to the market. Neptune suffered from higher costs to integrate the assets of and operations of its SugarLeaf acquisition than it acknowledged, placing a considerable strain on the Company’s capital reserves. It was reasonably foreseeable that the Company would need to raise additional capital through additional stock offerings. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Neptune, investors suffered damages.

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3D Systems Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. 3D Systems issued a press release on March 1, 2021, advising the market that it would fail to file its annual report for 2020 in a timely manner. The Company stated, “the delay in filing is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses.” Based on this news, shares of 3D Systems fell by almost 30% over the next several trading sessions.

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Datto Holding Corp.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Datto Holding Corp. (“Datto” or “the Company”) (NYSE: MSP) for violations of the securities laws.

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Lyra Therapeutics, Inc.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lyra Therapeutics, Inc. (“Lyra” or “the Company”) (NASDAQ: LYRA) for violations of the securities laws.

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Magnite, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Magnite is the subject of a research report released by Spruce Point Management on January 7, 2021. Spruce Point Management alleges that Telaria suffered from business woes before its merger with Rubicon, which formed Magnite. Rubicon allegedly also suffered from deep business problems prior to the merger. The report also alleges discrepancies in Telaria’s 2019 Capital Expenditures and the removal of $9.3 million in “Other Assets” by Magnite after the merger. The report alleges that Magnite utilized questionable financial reporting methods to hide Telaria’s financial problems. Based on this news, shares of Magnite dropped by more than 6% on the same day.

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